Economicalongside

Economicalongside is a neologism used to describe an approach in policy, planning, and governance that places economic analysis alongside social, environmental, and ethical considerations. The term blends "economy" with "alongside" and is used to signal parallel evaluation rather than sequential prioritization. It emerged in late 2010s in policy discussions, particularly among researchers and practitioners seeking more integrated decision frameworks.

Concept and scope: Economicalongside advocates for evaluating economic impacts in tandem with non-economic values, using multi-criteria methods that reveal trade-offs, distributional effects, and long-term resilience. It stresses transparency, stakeholder participation, and iterative assessment to avoid narrow cost minimization.

Applications: It has been invoked in urban planning, infrastructure investment, environmental policy, and corporate strategy, where decisions must balance profitability with social equity, climate risk, and resource stewardship. Examples include transportation projects that weigh upfront costs against accessibility and emissions, or procurement policies that align supplier efficiency with labor standards.

Methods and challenges: Practitioners draw on cost-benefit analysis with social and environmental adders, multi-criteria decision analysis, and integrated assessment models. Challenges include measurement of non-market values, attributing causality, and potential decision complexity or ambiguity in governance.

Reception: Proponents view economicalongside as a pragmatic route to more robust, legitimate decisions; critics warn it may dilute economic rigor or become a vague umbrella term without clear metrics.